June 27, 2017 Prumo announced two important deals with Siemens and BP for the sale of a stake in its wholly owned subsidiary Gás Natural Açu (GNA). In the case of the agreement signed with the German company, the agreement provides for exclusive negotiations and preliminary non-binding conditions for the acquisition of 33% of GNA's... Continue Reading →

Brazil's top federal prosecutor charged President Michel Temer with taking multimillion-dollar bribes on Monday in a stinging blow to the unpopular leader and to political stability in Latin America's largest country. Rodrigo Janot submitted the charge in a document presented to the Supreme Court, saying "he fooled Brazilian citizens" and owed the nation millions in... Continue Reading →

A Brazilian court on Monday sentenced former finance minister Antonio Palocci to 12 years in prison for corruption and money laundering in the country's massive corruption probe known as "Operation Car Wash." The ruling by Judge Sergio Moro adds pressure on Palocci, who served as finance minister under President Luiz Inácio Lula da Silva and... Continue Reading →

Brazil's Supreme Court is expected to rule on Thursday whether terms of plea bargains struck in the nation's sweeping corruption probes can be revised by the full court, a move critics worry could sharply weaken the most potent weapon prosecutors wield in rooting out graft. The court on Wednesday began debating that topic, and two... Continue Reading →

Brazil's federal police on Tuesday delivered to a top court justice the bulk of their investigation into allegations that President Michel Temer took bribes in exchange for political favors doled out to the world's largest meatpacker, JBS SA. The document, made public by the top court, is a significant step in the investigation, which is... Continue Reading →

A Brazilian Senate committee on Tuesday rejected President Michel Temer's labor reform bill, in an unexpected blow to his administration that does not kill the pro-market proposal but shows weakening support for his agenda. Even after being rejected in the social affairs committee by 10 to 9 votes, the proposal moves to the constitutional and... Continue Reading →

SAN RAMON, Calf.--(BUSINESS WIRE)--The United States Supreme Court has denied a certiorari petition seeking review of a decision by the U.S. Court of Appeals for the Second Circuit affirming extensive district court findings that a $9.5 billion Ecuadorian judgment against Chevron Corporation was the product of fraud and racketeering activity, and unenforceable in the United... Continue Reading →

Conditions remain favorable for interest rates to continue falling in Brazil and the main risk for that scenario is uncertainty over proposed economic reforms, central bank chief Ilan Goldfajn said on Monday at an event in São Paulo, according to prepared remarks published online by the bank. The central bank has cut interest rates by... Continue Reading →